Friday, Feb 11, 2005
Friday, Feb 11, 2005 |
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By Our Special Correspondent
NEW DELHI, FEB. 10. Owing to uncertainties in coking coal supplies, the Steel Authority of India Limited (SAIL) has inked an agreement with GAIL (India) for the supply natural gas (LNG) to its four integrated plants during 2006-07. According to a SAIL-GAIL joint statement, the supply agreement was signed here on Thursday by GAIL's Executive Director (Marketing), R. Suresh, and the Executive Director (Corporate Planning), SAIL, V. Shyamsundar, in the presence of the GAIL Chairman and Managing Director, Proshanto Banerjee, and the SAIL chief, V.S. Jain. Under the terms of the agreement, GAIL is to supply 3.56 million standard cubic metres a day (mmscmd) of natural gas in 2006-07 to the SAIL plants. Once natural gas is made available under the agreement, SAIL will be able to further bring down the consumption of coking coal by about one million tonnes annually. Besides, it will strengthen the company's effort to provide a cleaner environment while enhancing the productivity of the furnaces and contribute to reduction in operational costs.
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